What do these words mean to you: college, university or technical institute? Depending on where you live in the world, these words can mean different things.

Colleges – don’t underestimate the value studying at a college in Canada. In some countries the terms college or university are interchangeable; there isn’t much difference which one you study at. In some countries the word college is often associated with secondary schools. In Canada, the word college is seldom associated with secondary schools. Our high schools are simply called high school or public high school.

A college usually differs from a university in that it provides a hands-on or applied studies experience. It is usually more career or employment focused than the university and prepares the student for the workforce in a practical sense. Many colleges today also provide university transfer courses whereby the student can take their first two years at a college before transferring to study at a major recognized university. Many colleges and universities have signed agreements for collaborative programs and university transfer credits. In this type of arrangement, the student can study for his/her first 2 years in a smaller classroom setting where professors have time to spend on a one-to-one basis with their students. Students find that they can obtain better marks in a college and many Canadian students prefer to start their post-secondary education studying at a college before transferring to university.

Other factors that distinguish a college from a university are:

1. Generally tuition costs are less than at a university
2. Many diploma and certificate programs are offered, although some colleges have now been permitted by provincial governments, degree granting status
3. The time spent at a college is generally less than at a university. Diplomas, certificates, etc are 1 to 2 years in length with the intent to give you credentials so you can work sooner than if you go to university
4. University academic preparation courses. Students who do not have sufficient marks (GPA’s) can study at one of these colleges and upgrade to college or university program admission requirements.
5. Graduates who train for a specific job or applied field often are quickly employed in the workforce because of the practical experience obtained while studying

Technical Institutes – Canada needs trades people and technicians. Canada needs qualified plumbers, mechanical and computer technicians, etc. Our polytechnic institutes meet this need and our graduates from these institutes are usually quickly hired and work in well-paying positions. Computer technologies are hot programs in these institutions. Admission requirements are often high, the work is definitely applied and hands-on training and these certified graduates have a very high chance of being hired upon graduation. Canadian employers often prefer a graduate who has practical knowledge over theory.

Today, some of these institutes also offer degree programs but they are limited in number. If you want to learn a trade, become a qualified technician, or start working in Canada soon after graduation, then this is the place for you.

Universities – the coveted place to be for prestigious academic credentials. Several of our universities hold positions in the top 100 universities in the world. Even so, there is not a significant difference in the quality of education between our different universities. All must provide high quality education and courses in all our universities are taught by the finest of scholars.

Universities differ from colleges and technical institutions in that they offer a full range of degrees, from undergraduate to graduate degrees, the Bachelors to the Ph.D. They also offer a full spectrum of academic disciplines to students. Research also makes up a big part of the university, something you will not find at a college or technical institute. And where there is research there is funding. Graduate students are more likely to get funding at a university than elsewhere. Theory is king over practical experience although some universities now offer co-op programs with their Engineering programs. If you want to work as a teacher, nurse, psychologist, etc, you will want to go to university. Also for professional programs such as Business, Medicine and Law, you must go to a recognized university.

While looking for that ideal place to study in Canada; as an international student, do not rule out any of Canada’s fine institutions. Don’t get sidetracked by the name college as opposed to university. The college might be more suitable for you or vice versa. Or maybe the technical school is the place you ought to be.

Education is of prime importance in our lives. Although, Government of India has made education free and compulsory up to 14 years of age; it is getting extremely expensive to get quality education. The scholarships offered by esteemed universities are very few in comparison to the many hopeful and deserving applicants. Due to the expenses, eager minds of these students are left unbridled. But all’s not bleak and gloomy, in fact, now the situation is quite the contrary. Education in India is thriving thanks to student education loans provided by many government and private banks. Let’s take a look at some of the features of student education loans.

Eligibility
Generally, education loans are provided to students of Indian nationality within the age group of 15-30 years. Another requisite of it is that the student applying for the loan must have a working parent or a guardian to be the guarantor. The loan approval will be based on the capability of the borrower and the guarantor’s assets, liabilities, income, etc. Also, the student must hold a good academic record and he/ she should have secured admission by clearing the necessary entrance examinations for that course.

Courses
One can benefit from the student education loan for courses in India which are approved by the state and central government as well as courses from foreign universities. The nature of the course and the reputation of the university may be checked by the bank providing the student education loan. The student education loan covers tuition fees, library, hostel, as well as other expenses of books, uniforms, travel, etc.

Loan Limit
The maximum loan limit for studies in India is Rs. 10 Lac and the maximum loan limit for studying abroad is Rs. 20 Lac. If the loan is for Rs. 4 Lac and above, then 5% of the margin is applied for studies in India and 15% for studies abroad. For loan up to Rs. 4 Lac, there are no security requirements. However, if the loan amount is higher than that, then one has to provide some like property, LIC policies and Government securities. Many institutes have tie-ups with banks thereby providing lower rates. Also, some banks offer lower rates to female students.

Repayment
The repayment option for a student education loan is very flexible. Usually, one has to start paying the EMIs after the completion of the course but in case the student does not get a job then a grace period of 6-12 months is offered. In the due time, if the student gets employment then he has to start the EMI payments. The period of repayment varies from bank to bank. It can be from anywhere between 3-15 years.

These days almost every bank offers student education loan, so you will have a wide range of plans to choose from and get the best one according to your needs and requirements. This loan assists the youth of our nation in pursuing their aspirations. So, the next time your son or daughter tells you of their dreams, you know how to make them come true!

If you want to pursue higher studies, then you will certainly know that education does not come cheap. If your financial back ground is not that strong and stable, you will surely face a lot of difficulty while pursuing higher studies. Instead of ruing over your financial situation, it would be preferable to look for other alternatives. It is not that you cannot overcome the financial crunch and to help you out, the financial market has come up with the provision of cheap education loans. These loans are crafted to provide monetary assistance to those who are from the weaker sections and cannot afford to bear the expenses on further studies.

These loans are very much designed to suit your prevailing circumstances. The terms and conditions are flexible. With the aid of the loans, you can take care of expenses related to paying admission fees, college examination fees, hostel dues, purchasing books, computer, food along with your personal expenses. The expenses the entire fee for the course duration.

There are various sources from where you can source these loans. If you really want to derive these loans at cheap rates, then you can consider availing the loans from government. The federal loans are offered to you in the form of Stafford and Perkins loans. As these loans are mainly offered by the federal government, the interest rates charged are nominal and affordable. These loans are further also offered to parents or guardians on behalf of the students. Further, a student with a history of bad credit can also reap the benefits of these loans.

The loans from government agencies are meant for those who are financially weak and unstable. For those who do not get the chance of deriving the federal loans, they can avail the same loans from private lenders these loans are further made available to you in secured and unsecured form. This classification helps you to borrow the amount as per your need and requirement.

Once you have completed the studies, you do not have to start making repayments. In fact only after getting a descent job with a suitable income, you have to start making the payments.

Cheap education loans pave the way for you to derive finance at low rates, so as to tackle all the expenses pertaining to your education.